Owners need written agreement on running business

Unless you are the sole member or shareholder of your business, other owners, shareholders, or investors will want a say in how the business is run.  You need a written agreement among the owners as to how the business will operate.  For example:

  • What decisions require a unanimous vote?  A majority vote?
  • How are profits/losses divided?
  • How is the business to be valued if one owner wants to leave?
  • Can one owner buy out another owner?  If so, how?
  • What happens if one owner dies or becomes disabled?
  • What is the procedure to resolve disputes?

We have prepared and, when necessary, litigated owner agreements.  We can advise you as to which terms would work best for you.